Sakamoto says India has been a strategic investment destination with skilled and dedicated people
Japan’s Shibaura Machine, the leading manufacturer of high-precision injection moulding machine in the world, is to invest Rs.225 crore in India, primarily to expand its manufacturing capacity in Chennai.
Subsidiary Shibaura Machine India Private Limited (SMI), a world class facility in Chembarambakkam, Chennai, will increase manufacturing capacity to 3,200 Injection Moulding Machines a year in a phased manner from about 1,200 units and its auxiliary equipment a year.
The machines are for automotive, electrical, household & furniture, material handling, medical, packaging, preforms, PVC, toys, writing instruments, and other industries.
The company has a growing customer base in India and over 45 countries in North America, the Middle East, East & West Africa, and the SAARC region.
SMI began its operations with the takeover of the plastics machinery business of Larsen & Toubro in 2012. Celebrating its tenth anniversary this year, the company has recently laid the foundation stone for the construction of a new manufacturing facility at a sprawling 11+ acres, adjacent to its existing plant.
The new factory is expected to begin its trial production by November 2023.
In addition, about 50 MSME vendors will be developed to cater to the need of increased capacity.
Announcing its investment plan, Shibaura President Shigetomo Sakamoto said on 25 Nov 2022, “India has been a strategic investment destination for us, and it represents a growing market for our products. However, what makes the country even more attractive is its skilled and dedicated people.
“Over the years, the teams in Japan and India have nurtured a strong and fruitful partnership, as a result, SMI is able to carry out improvements in manufacturing processes, increase production and bring to market the latest Japanese technology, all quite effectively and quickly.
“SMI is the very first unit outside Japan to have been recognised with the prestigious Shibaura Machine’s President Award for its performance and technology innovation.
“The Indian unit has won this coveted prize twice in three years. We are confident of what our Indian team can achieve in design, manufacturing, and customer service, in the years to come. We are equally committed to the government’s Make in India program.
“Our fresh investment will see doubling of production capacity, and rapid strides in the adoption of advanced material technology, control, mechatronics, and IoT in our Indian factories, in the next three years.”
SMI Managing Director M. Kumar added, “As we celebrate our 10th anniversary, we remember the tremendous faith our parent company, Shibaura Machine Co., Ltd. has reposed on us, and their support in our growth.
“Since takeover in 2012, SMI carried out improvements in manufacturing processes and increased its production capacity from 600 to 1,200 machines per year and sales revenue tripled.
“We have made steady progress year after year, and have crossed the milestone of selling our 10,000th machine in 2019 and 13,000th machine in Oct 2022. With the new investment, we will continue to grow our capacity and team.
“We will add new products, and increase our customer base, buoyed by the track record of being able to meet varied requirements of our customers and the stringent standards of importing countries USA, Africa, Middle East, South & Southeast Asia,” said Kumar.
Shibaura Machine Group was founded in 1939 as Shibaura Machine Tool Company with investment from Shibaura Engineering Works (now Toshiba Corporation) in 1939, and changed its name to Toshiba Machine Co. Ltd. in 1961.
Shibaura Machine entered into manufacturing in India in 2012, acquiring 100% stake in L&T Plastics Machinery Limited, then market leader in hydraulic injection moulding machines in India. fiinews.com
